Five percent (5%) of the unencumbered revenues collected and received by the Town pursuant to the annual levy of general ad valorem property taxes on real property as authorized under Section 12.1 of the Town Charter shall be dedicated to and deposited in a separate Open Space Fund as established under Section 4-1-30 of this Code; fifteen percent (15%) of the unencumbered revenues collected and received by the Town through the same annual levy of general ad valorem property taxes on real property shall be dedicated to and deposited in a separate Reserve Capital Improvement Fund as established under Section 4-1-100 of this Code. For purposes of this Section, unencumbered revenues means those tax revenues not already pledged or dedicated to debt service or obligations created or in effect prior to the collection of said revenues. In no event shall revenues dedicated and transferred into both the Open Space Fund and the Reserve Capital Improvement Fund exceed twenty percent (20%) of the total annual property tax revenues collected and received by the Town in any given year absent the express prior authorization of the Town Council by ordinance or resolution. (Prior code 3.30.010; Ord. 1288 §1, 2008; Ord. 1572 §1(E), 2023)